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FxWirePro: ETH/USD surges to all-time high at 420, bias bullish, stay long

ETH/USD surged to fresh all-time highs at near 420 levels on Thursday before it closed at 408 levels. It is currently trading at 410 levels at the time of writing (Kraken).

Ichimoku analysis (Daily chart):

Tenkan-Sen: 367.78

Kijun-Sen: 348.84

On the upside, a consistent break above 422 (trend line joining 349.50 and 419.98) would see the pair testing 447 (127.2% retracement of 395 and 201.28)/479 (127.2% extension of 201.28 and 419.98)/500.

On the downside, support is seen at 384 (5-DMA) and a break below would see the pair testing 360 (10-DMA)/334 (20-DMA). Further weakness would target 311 (trend line joining 201 and 277)/303 (Cloud top)/ 273 (200-DMA).

Momentum studies: Bias remains bullish on the daily chart, with RSI strong at 76, MACD line above the signal line, and major moving averages biased sharply higher.

Call Update: We recommended going long in our previous call. The pair has hit both the targets.

Recommendation: Book partial profits, stay long. Trail stop loss to 380. TP: 447/479.

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July 18 12:30 UTC Released

USHouse Starts MM: Change

Actual

-12.3 %

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July 18 12:30 UTC Released

USHousing Starts Number MM

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1.173 Mln

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January 31 00:00 UTC 242672242672m

ARAnnual Primary Balance*

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2016 bln ARS

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2016 bln ARS

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January 22 19:00 UTC 254492254492m

ARTrade Balance

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-1541 %

January 31 00:00 UTC 242672242672m

ARAnnual Primary Balance*

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Forecast

2016 bln ARS

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Bln AR bln ARS

January 22 19:00 UTC 254492254492m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 242672242672m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 242672242672m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 242672242672m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

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